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20871127
20871138

3428 W Colorado Ave, Colorado Springs, CO 80904

LW
CO CO 100084704
Cushman & Wakefield - Denver, Colorado
Listed by Cushman & Wakefield - Denver, Colorado
$1,650,000
549 days on market
Updated 79 days ago

Sausalito Cottages

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,316
Net Rentable (SqFt) 5,316
Units 12
Cap Rate 6.55%
NOI $108,041
Occupancy 92%
Pro-Forma Cap Rate 7.43%
Pro-Forma NOI $122,586
Class C
Year Built 1934
Year Renovated 2021
Buildings 11
Stories 2
Lot Size (SqFt) 13,000
Zoning C5
Parking Spaces 12 spaces
Parking Per SqFt 2.26
Investment Type Stabilized
Occupancy Date 12/02/2024

PRICE REDUCTION!

Marketing description

Cushman & Wakefield is pleased to present the exceptional Sausalito Cottages, a well-maintained, private multi-family complex consisting of 12 units comprised of 10 cozy cottages and a duplex in the heart of Colorado Springs. Located just off HWY 24 & Colorado Avenue, this property offers both privacy and convenience, making it an attractive option for tenants seeking easy access to the mountains, local attractions, and all that Colorado Springs has to offer.

Sausalito Cottages offers attractive rental rates with strong income potential, and there is ample opportunity to increase returns based on current market conditions. The property also presents room for growth, with possibilities for minor improvements or upgrades that could elevate the property’s value and attract higher-end tenants. Its prime location, with easy access to major transportation routes, further enhances its appeal to working professionals seeking commuter-friendly living options. Additionally, the layout of the complex lends itself well to professional management, simplifying operations for any future owner. With its unique features, prime location, and untapped potential for growth, Sausalito Cottages represents a rare and profitable investment opportunity in a thriving market that won’t last long.

Investment highlights

Private Studio Apartments: Separate, self-contained studio units that maximize tenant privacy and offer a low-maintenance living arrangement.

Prime Location: Excellent access to HWY 24 for commuter convenience, with quick connections to Denver, and minutes from iconic attractions like Garden of the Gods, Cave of the Winds Mountain Park, and Manitou Springs.

High Demand Area: Close proximity to popular restaurants, shops, and entertainment, ensuring a steady rental market and low vacancy rates.

Solid Investment: Ideal for long-term investors looking to expand their portfolio with a property that offers both charm and potential for growth in a rapidly appreciating area.

Listing Contacts

LW
CO CO 100084704
Cushman & Wakefield - Denver, Colorado
Listed by Cushman & Wakefield - Denver, Colorado

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$108,041.00
$9,003.42/mo

Valuation Metrics

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DSCR
6.55%
Cap Rate
6.55%
ROI

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Additional Information

Name
Lee Wagner
License
CO 100084704
Brokerage
Cushman & Wakefield
Brokerage Phone
4174592155
Title
Director
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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